RE: Without knowing Mr. Meredith's net worth, as of April 30 1997, he was credited with owning 375,913 shares of DELL. DELL has split twice since then, so I think we may safely assume that Mr. Meredith is "well off". If DELL drops in value by 10%, 50%, or 90%, he would still be "well off".
According to your comment, Mr, Meredith owns 375,913 shares as of 4/30/97.
Since then, 2 stock splits = 375,913 X 2 = 751,826 X 2 = 1,503,652.
As of March 10, 1998, before the second split, He owned
422,466. Since that second split, X 2 = 844,932
So that means he has sold a total of 658,720 shares.
For Kicks, lets assume an average price of $45 = Just shy of $30 million.
So you are correct. If DELL were to fall in vlaue by 10%, 50%, 90% he will be well off.
Now If this guy is as optimistic as you are, then why did he sell almost 45% of his holding ?
Oh yea, the real number of shares is most likely higher as it would make sense to assume that he has received a few more shares in some form of compensation since 1997.
He has a very large intrest in keeping the stock price as high as possible as long as possible. He will have another selling window soon. Wouldn't you hype the stock just before your next selling window. Within all leagle bounds of course.
Jim |
